Moishe Mana just dropped another $6.9M in downtown. And he’s not done buying
One of the largest investors in downtown Miami continues to expand his footprint.
Moishe Mana closed Tuesday on a 15,478-square-foot parking lot at 201 SW First Street in downtown for $6.9 million, or $445.79 per square foot. Mana said he had been working on the sale for the lot bordering Interstate 95 for about a year.
The seller Kalback Holdings LLC purchased the lot in 1974 for $80,000.
The purchase adds another piece to the Mana Common project, a revitalization plan in Miami’s Flagler District, said Mana. He bought his first slice of downtown five years ago; since then, he has invested about $400 million in buying an assemblage of buildings and properties.
“The property is part of the assemblage. It’s the only way to build something,” Mana said.
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The Israeli-born developer did not disclose plans for the site but said he is negotiating closings on three other properties in downtown.
The property is a six-minute walk from a City National Bank building Mana purchased in December for $25 million.
This story was originally published February 5, 2020 at 12:00 AM.
